Survival Bulgaria Blog http://blog.survivalbulgaria.com weblog of expats in Bulgaria forum Tue, 04 Nov 2008 10:31:05 +0000 http://wordpress.org/?v=2.6.3 en Counting naked swimmers… http://blog.survivalbulgaria.com/counting-nake-swimmers/ http://blog.survivalbulgaria.com/counting-nake-swimmers/#comments Mon, 03 Nov 2008 18:10:37 +0000 survivor http://blog.survivalbulgaria.com/?p=69 Now when it is clear that the situation will not get any better in the next few months it is time to count those who were “swimming naked” hoping that the tide will miss them ;)

It seems that few developments in Bansko are already experiencing difficulties servicing their clients like All Seasons Club, The Orchard, Cedar Lodge (I, II and the rest), Lira Thermal and Golf Club IBAR. Apart from them there are some others that will come up very shortly.

The only sad thing is that this “swimming” experience will leave bad taste to those involved.

]]> http://blog.survivalbulgaria.com/counting-nake-swimmers/feed/ The world crisis finally came to Bulgaria http://blog.survivalbulgaria.com/the-world-crisis-finally-came-to-bulgaria/ http://blog.survivalbulgaria.com/the-world-crisis-finally-came-to-bulgaria/#comments Thu, 30 Oct 2008 12:10:45 +0000 survivor http://blog.survivalbulgaria.com/?p=67 It is official now. Whether you like it or not it is here. We are about to see “who has been swimming naked”. Construction, estate agents, construction materials, tourism will feel it shortly. Banks, financial services to follow.

Ready to dive?

]]> http://blog.survivalbulgaria.com/the-world-crisis-finally-came-to-bulgaria/feed/ How to certify power of attorney for Bulgaria http://blog.survivalbulgaria.com/how-to-certify-power-of-attorney-for-bulgaria/ http://blog.survivalbulgaria.com/how-to-certify-power-of-attorney-for-bulgaria/#comments Tue, 28 Oct 2008 12:10:01 +0000 survivor http://blog.survivalbulgaria.com/?p=63 I posted a detailed instruction on how to certify documents (and more precisely power of attorneys) in order to be valid in Bulgaria.

Probably this information will be useful for someone who is about to finalise purchase process by signing of a title deed.

Apart from the power of attorney there are also some other documents required but this will depend on your situation and it is better to consult it with a lawyer.

]]> http://blog.survivalbulgaria.com/how-to-certify-power-of-attorney-for-bulgaria/feed/ When the prices go down http://blog.survivalbulgaria.com/when-the-prices-go-down/ http://blog.survivalbulgaria.com/when-the-prices-go-down/#comments Tue, 21 Oct 2008 15:07:40 +0000 survivor http://blog.survivalbulgaria.com/?p=58

After all, you only find out who is swimming naked when the tide goes out. Warren Buffett

Recent articles discuss the possibilities of price falling in the real estate sector in Bulgaria. Some websites even have dedicated section for properties with falling prices. According to the statistics in some areas the prices are falling with nearly 40%, which might not be the case for big cities so far, but who knows… After the boom in real estate market the cooling period is now a fact.

Although many analysts believed that the world crisis will not affect Bulgaria (for various reasons) at the moment not that many people are so confident. The effect of the crisis is very obvious in the number of deals who are signed recently. Unlike the past nowadays most notaries have one or two deals per day. The question is: will the number of sales reflect property’s prices?

As far as the properties in resorts like Sunny Beach, Bansko and others are concerned - the answer is obvious. Lack of rentals, low income on investment, bad weather, short season and other factors were pushing the prices down even before the crisis. Many investment projects currently are frozen either for lack of financing or for lack of demand. In even worse condition are projects that started but at the moment are in the middle of nowhere - very few off plan buyers and continuous lack of interest.

An ancient Chinese proverb and/or curse(?) is saying “May you live in interesting times”. Well, looks like those times are coming.

]]> http://blog.survivalbulgaria.com/when-the-prices-go-down/feed/ New TV series for British expats http://blog.survivalbulgaria.com/new-tv-series-for-british-expats/ http://blog.survivalbulgaria.com/new-tv-series-for-british-expats/#comments Wed, 08 Oct 2008 13:55:13 +0000 survivor http://blog.survivalbulgaria.com/?p=55 As posted in the forum ITV is starting new TV series for British expats whose dream for home abroad turn up into something else…

Probably “A place in the sun” will continue as “A scam revealed” since many people recently had very bad experience buying properties in Bulgaria. Not to mention those who are still waiting for completion on their contracts signed some time ago.

If you feel that you have something to say get in touch with ITV.

]]> http://blog.survivalbulgaria.com/new-tv-series-for-british-expats/feed/ Corrupted judge caught with bribe receives money back http://blog.survivalbulgaria.com/corrupted-judge-caught-with-bribe-receives-money-back/ http://blog.survivalbulgaria.com/corrupted-judge-caught-with-bribe-receives-money-back/#comments Fri, 26 Sep 2008 11:06:35 +0000 survivor http://blog.survivalbulgaria.com/?p=26 The head of Varna Administrative Court Anelia Tzvetkova who was caught receiving 10 000 Bulgarian Levs bribe on 17 July this year will receive back her money according to the decision of the Court.

Anelia Tzvetkova

Anelia Tzvetkova

As usual in such cases the judge Tzvetkova suddenly felt very ill and started serious treatment from illnesses which symptoms obviously appear after confiscation of large amounts of money (just for the record: apart from the bribe of 10 000 BGN the judge was keeping at home 88 500 Levs, 28 900 Euros, 3270 USD и 400 grams of gold). I am sure that she will find very reasonable explanation from where she received all that fortune, especially after the Court decided that the money should be returned to her.

And justice for all…

EDIT: In the meantime Transparency International announced their survey on corruption for 2008. Guess where Bulgaria is…

]]> http://blog.survivalbulgaria.com/corrupted-judge-caught-with-bribe-receives-money-back/feed/ Property market in Bulgaria - the party is over? http://blog.survivalbulgaria.com/property-market-in-bulgaria-the-party-is-over/ http://blog.survivalbulgaria.com/property-market-in-bulgaria-the-party-is-over/#comments Sun, 24 Aug 2008 14:40:33 +0000 survivor http://blog.survivalbulgaria.com/?p=24 A recent article in The Economist put the start in the discussion whether the prices of the real estates in Bulgaria should go down or not.

It was not very long after that and discussion was started related to that article. Of course, according to the Bulgarian real estate “experts” the prices will not go down but on the contrary - continue to raise. The only decrease they expect to face the land prices.

In addition to this debate there is another one focused on how the world crisis will affect the Bulgarian economy and especially the real estate market. A very spread believe is that the main factors lead to the crisis in USA and Western Europe are missing in Bulgaria and therefore the crisis cannot happen to the same scale here.

It is sure that soon we will see who is right and who is not but somehow I tend to believe that the articles in The Economist is closer to the truth.

]]> http://blog.survivalbulgaria.com/property-market-in-bulgaria-the-party-is-over/feed/ Knowing your way around Sofia http://blog.survivalbulgaria.com/knowing-your-way-around-sofia/ http://blog.survivalbulgaria.com/knowing-your-way-around-sofia/#comments Tue, 29 Jul 2008 11:27:42 +0000 survivor http://blog.survivalbulgaria.com/?p=16 A recent project of the Ministry of State Administration and Administrative Reform called Comprehensible Bulgaria has been started with a view to make life of non-Bulgarian speaking visitors to Bulgaria easier.

All of this would have been good if the streets named after non-Bulgarians were translated as the name is in fact and not to some sort of interpretation like:

The person in question is James Bourchier and it is good that soon after this a new sign was placed…

Anyway, it is still widely used another version of that name “James Baucher” so you need to double check where exactly you are going in Sofia. If that does not help then learning Bulgarian is probably the only option left;)

]]> http://blog.survivalbulgaria.com/knowing-your-way-around-sofia/feed/ Apartments’ prices in Sofia reached the top http://blog.survivalbulgaria.com/apartments-prices-in-sofia-reached-the-top/ http://blog.survivalbulgaria.com/apartments-prices-in-sofia-reached-the-top/#comments Thu, 19 Jun 2008 22:13:42 +0000 survivor http://blog.survivalbulgaria.com/?p=15 An article from yesterday in Pari (Money) Newspaper reports that the prices of the apartments in Sofia reached the top and exceed the amounts that the buyers are willing to pay. This wise discovery is made by the executive director of Address Real Estate Katya Tzenova.

Finally, they managed to discover that the greed for commissions will kill the market and they cannot push the prices up endlessly. It was very widely used by the estate agents to insist that certain properties can be sold for a price that is sometimes 30% or 40% above the initial asked. That is why I am still waiting Address to sell one property which they “discovered” to worth 20% more than the initially asked price. Well I am still waiting and it is good that it is not only them who are selling it ;)

]]> http://blog.survivalbulgaria.com/apartments-prices-in-sofia-reached-the-top/feed/ Half empty or half full? http://blog.survivalbulgaria.com/half-empty-or-half-full/ http://blog.survivalbulgaria.com/half-empty-or-half-full/#comments Wed, 11 Jun 2008 13:04:02 +0000 survivor http://blog.survivalbulgaria.com/?p=14 Recent article in The Sofia Echo comments the situation with the office space for rent in the city. Naturally, the construction boom will not leave this area of the real estates intact and after overbuilding in resorts the next area is the office space.

For many of this new developments the dilemma “half empty of half full” does not exist at all since they are committed to become fully empty even before they are started but obviously the motives behind building them are not purely financial. Sometimes bankruptcy is deliberately sought by the developers in order to resell the project on more attractive price… It is needless to say the more than half of so called office buildings do not offer anything different than the regular apartment so popular and used as offices in the centre of the city while at the same time offered at prices completely unreasonable for the areas where they are located.

]]> http://blog.survivalbulgaria.com/half-empty-or-half-full/feed/